CIX vs EWJ: Correlation
How closely do CompX International Inc. (CIX) and iShares MSCI Japan ETF (EWJ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIX and EWJ?
Across a 3-year window, the weekly returns of CIX and EWJ correlate at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.36). Stretching to 5 years gives 0.33, with an annualized covariance of 417.7 %².
In CIX's tracked universe of 11 assets, EWJ sits right near the top at #1. Their 12-month results are close: +31.7% for CIX against +27.1% for EWJ. One caveat on sizing: CIX is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CIX vs EWJ: side by side
| CIX (CompX International Inc.) | EWJ (iShares MSCI Japan ETF) | |
|---|---|---|
| 1-year return | +31.7% | +27.1% |
| 5-year return | +117.2% | +58.6% |
| Volatility (ann.) | 59.7% | 19.6% |
| Beta vs S&P 500 | 0.98 | 0.94 |
| Max drawdown (3Y) | -43.9% | -14.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 3.75% | 3.86% |
| Expense ratio | – | 0.49% |
| Assets under management | – | $21.8B |
| Sector / category | US Listed | ETF · International |
EWJ, iShares's Japan Stock fund, carries $21.8B under management, 168 holdings, a 0.49% expense ratio, a 3.86% trailing dividend yield.
Year-by-year returns
| Year | CIX | EWJ |
|---|---|---|
| 2022 | -8.0% | -17.7% |
| 2023 | +43.6% | +20.3% |
| 2024 | +14.7% | +7.0% |
| 2025 | -3.2% | +25.8% |
| 2026 | +40.3% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIX and EWJ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CIX and EWJ?
As of 2026-08-27, the correlation of weekly returns between CIX and EWJ is 0.36 over 3 years, 0.22 over 1 year and 0.33 over 5 years.
Is EWJ a good diversifier for CIX?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cix-vs-ewj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cix-vs-ewj/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CIX correlations · EWJ correlations
